The Reserve Bank of India (RBI) left interest rates on hold on Tuesday but cut the cash reserve ratio for banks by 50 basis points, a move that eases tight liquidity in the banking system and underscores a policy shift from fighting inflation to reviving growth.  The move will inject primary liquidity of Rs 32,000 crore in the banking system. The CRR cut is effective from the fortnight beginning January 28, 2012. The central bank kept repo rate unchanged for the second time in as many months as it sees upside risks to inflation from global crude oil prices, lingering impact of rupee depreciation.